Bipolar disorder, also known as manic-depressive disorder, is a mental illness. It is a mental health problem that primarily affects mood. Symptoms of bipolar disorder are extreme irritability or agitation, a period of feeling empty, loss of interest in normal activities, sleep problems, etc. According to Pfizer, Inc., bipolar disorder affects over 5 million people in the U.S. Bipolar episodes are characterized by a drastic change in behavior and mood, and range from joyful and overexcited (manic episodes) to extremely sad and hopeless (depressive state). These disorders have different types of episodes such as manic episodes, hypomanic episodes, depressive episodes, and mixed episodes. Causes of bipolar disorders include childhood trauma, stressful life events, self-esteem problems, and genetic inheritance. People across the world marked “March 30” as a World Bipolar Day to spread awareness about the disorder and erase the stigma of mental illness. Large number of people suffering from this mental condition resort to drinking to lift their mood. According to the National Institute on Alcohol Abuse and Alcoholism, 27.6% of the people with bipolar disorder become addicted to alcohol, while over 16% engaged in alcohol abuse.
Rise in prevalence of bipolar disorder, high unmet medical needs, technological advancement and government initiatives are the key factors accelerating the growth of the bipolar disorder therapeutics market. According to the National Institute of Mental Health, in 2016, the Johns Hopkins University School of Medicine and the Salk Institute for Biological Studies co-led a US$ 15.4 Mn effort to develop new systems for quickly screening libraries of drugs for potential effectiveness against schizophrenia and bipolar disorder. Increase in investment in research and development and collaboration activities between companies for product development are the other factors likely to propel the bipolar disorder therapeutics market. In 2015, Aequus and Corium entered into product development collaboration focused on CNS diseases such as autistic disorder, bipolar disorder, schizophrenia, and other major depressive disorders. However, stringent regulations acts as a major restraint of the bipolar disorder therapeutics market.
The global bipolar disorder therapeutics market can be segmented based on disease type, drug type, distribution channel, and region. In terms of disease type, the market can be classified into bipolar I, bipolar II, cyclothymia, and others. Based on drug type, the global bipolar disorder therapeutics market can be categorized into mood stabilizers, antipsychotics, antidepressants, and others. In terms of distribution channel, the market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies.
Geographically, the global bipolar disorder therapeutics market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the global bipolar disorder therapeutics market due to new product innovation, increased awareness among people about bipolar disease, and rise in prevalence of bipolar disorders. According to the National Institutes of Health, in the U.S., 48.8% people with bipolar disorder are receiving treatment. Europe is the second largest market for bipolar disorder therapeutics. The market in Asia Pacific is expected to expand at a higher growth rate due to increase in investment in research & development, growing awareness among people, rise in investment by pharmaceutical companies, and availability of skilled manpower for product manufacturing. According to Graphiq, Inc., per year 100,000 people lost their life from bipolar disorder in India has increased by 14.3% since 1990, an average of 0.6% a year.
Major players operating in the global bipolar disorder therapeutics market include Eli Lilly and Company, AstraZeneca plc, Pfizer, Inc., Janssen Pharmaceuticals, Otsuka America Pharmaceutical, Inc., and Allergan plc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.